Dáil Éireann Debate, Thursday - 6 July 2023
11. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage to provide an update on his Department’s efforts to deliver the additional 15% affordable housing in the Poolbeg SDZ including whether he or his cabinet colleagues has met with NAMA and discussed the transfer of NAMAs 20% equity stake in the SDZ lands to Dublin City Council to assist them in ensuring the delivery of genuinely affordable homes in the SDZ. [33130/23]
View answerThe regeneration of Poolbeg West is an important step in the transformation of the Dublin Docklands area, with the potential to provide for 3,500 homes. A novel condition of the planning scheme for the Poolbeg West Strategic Development Zone, is the provision of 15% social and affordable homes in the SDZ, in addition to the 10% statutory social housing requirement under Part V arrangements.
The developers are engaging with Dublin City Council regarding the provision of the 10% Part V social housing in the first phase which involves 570 apartments.
My Department has been working with Dublin City Council and the developers of the Poolbeg SDZ area to progress an agreement on the delivery of additional social and affordable housing in this first phase, subject to the SDZ requirements and value for money considerations.
I understand that NAMA held a percentage stake in the company that owns the site, as opposed to owning 20% of the site itself, and as such they were represented at those tripartite talks by the lead negotiators for the Consortium. I understand that NAMA has recently sold its interest to the majority stakeholders. This has no effect on the SDZ requirement and negotiations in relation to the 15% requirement continue.
I understand drafting of an agreement is now underway. I am not in a position to comment further on the contents until an agreement is finalised but I note it is intended that the full additional 15% social and affordable homes will be achieved across the phases of development on the site.
